Quarterly Sector Accounts - 3rd quarter of 2019

According to seasonally adjusted data, the total of monetary and non-monetary income of households increased in real terms by 1.6%, quarter-on-quarter (q-o-q). The real consumption per capita increased by 1.2%, q-o-q, and the saving rate increased by 0.5 percentage point (p. p.). The investment rate of non-financial corporations increased by 0.3 p. p. compared to the previous quarter.

Non-financial corporations: both profit rate and investment rate increased

The profit rate in the Q3 2019 was 46.4%, which is by 0.1 percentage point more, quarter-on quarter, and by 0.7 p. p.¹ more, year-on-year. The total labour costs of non-financial corporations increased by 6.2%¹, y-o-y. The investment rate increased by 0.3 p. p., q-o-q, and reached 28.0%. It decreased by 1.2 p. p.¹, year-on-year.

Households: both real income and consumption of households increased

The total of real monetary and non-monetary income of households per capita increased in the Q3 2019 by 1.6%, q-o-q, and by 3.6%¹ in the year-on-year comparison. The household real consumption per capita grew slower, q-o-q, namely by 1.2%. In the year-on-year comparison, the real consumption increased by 3.9%¹.

The average monthly income from employment reached CZK 34 532¹ in the Q3 and it increased in real terms by 1.2%, q-o-q; in the y-o-y comparison it was 3.5%¹ up.

Resulting from the faster growth of household income compared to their expenditure was a higher saving rate compared to the previous quarter, i.e. 11.0%. The investment rate in the household sector increased by 0.1 p. p., q-o-q, and reached 8.8%.

GDP estimate refinement

According to the revision policy, annual national accounts for the year 2018 have been newly published; now they are fully in accordance with the notification version of the accounts for the general government sector from October 2019. The refinement had no influence on total growth rates of the GDP in the Q3 2019. The GDP increased by 0.4%, q-o-q; in the y-o-y comparison it grew by 2.5%. For the time series of the GDP resources and uses see: https://www.czso.cz/csu/czso/hdp_ts.

¹ Seasonally non-adjusted piece of data.

All terms are in terms of national accounts; for explanations of terms written in bold italics see: https://apl.czso.cz/nufile/Definitions.pdf.

Contact person: Vladimír Kermiet, Director of the National Accounts Department, phone number (+420) 274 054 247, e-mail: vladimir.kermiet@czso.cz
Used data sources updated as at: 17 December 2019
Related CZSO website: https://www.czso.cz/csu/czso/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next Release will be published on: 31 March 2020 (Quarterly Sector Accounts for the fourth quarter of 2019)

Data of quarterly sector accounts are seasonally adjusted unless otherwise stated.

The news releases of Eurostat on quarterly sector accounts are published later. The latest published information for the second quarter of 2019 is available at:
https://ec.europa.eu/eurostat/web/products-press-releases/-/2-04102019-BP,
https://ec.europa.eu/eurostat/web/products-press-releases/-/2-04102019-CP,
https://ec.europa.eu/eurostat/web/products-press-releases/-/2-29102019-AP.

Quarterly sector accounts data are published on the CZSO website in the tables of Transactions in Products and Distributive Transactions by Sector:
http://apl.czso.cz/pll/rocenka/rocenkavyber.kvart_qsa?mylang=EN&oblast=@RU
and Quarterly Non-financial Sector Accounts (Current and Capital Accounts):
http://apl.czso.cz/pll/rocenka/rocenkavyber.kvart_qsa_mat?mylang=EN&oblast=@RU

Attachments

⇩ acsu011020.docx
Annexes:
⇩ Table 1 Selected indicators of Quarterly Sector Accounts - (seasonally non-adjusted data)
⇩ Table 2 Selected indicators of Quarterly Sector Accounts - y-o-y change (seasonally non-adjusted data)
⇩ Table 3 Selected indicators of Quarterly Sector Accounts (seasonally adjusted data)
⇩ Table 4 Selected indicators of Quarterly Sector Accounts - q-o-q change (seasonally adjusted data)
⇩ Chart 1 Average monthly income of households from employment – seasonally adjusted
⇩ Chart 2 Real income and consumption expenditure of households – seasonally adjusted